(14 October 2022 – Singapore) Standard Chartered has introduced “Trade Track-It”, a digital trade transaction portal offering clients end-to-end visibility of their trade transaction status globally.
The portal utilises DHL’s tracking system and Lloyd’s List Intelligence’s vessel tracking system to provide customers and counterparties with 24/7 access to near real time updates for trade transactions, document delivery, and vessel status.
Before the Trade Track-It portal, Standard Chartered’s clients would need to contact the bank directly to check on their trade transactions. This takes several hours to days depending on the complexity of the transaction.
Prior to the introduction of Trade Track-It, clients would need to contact the Bank to check on the Trade Track-It also offers vessel tracking functionality which allows them to track the geo-location and movements of their trade linked ocean shipments, providing near real time visibility and better planning
The platform can also be used by clients to check whether their trade transactions meet the bank’s sustainable trade finance standards. A sustainability indicator will reportedly be reflected if the criteria based on the bank’s proprietary sustainable trade finance framework are met.
“Trade Track-It complements our existing client service channels by providing service channel optionality to clients. The digital portal also empowers our clients to make informed business decisions more quickly, with one-stop access to the trade transaction information they need to better facilitate trade flows in an efficient and transparent manner” said Standard Chartered Global Head of Flow and Financial Institution Trade, Samuel Mathew